Normative Positions and Market Failures - The Implications of Political Ethics on Cures for Market Failures
In this essay I discuss different normative foundations - theories of political ethics, for proposed cures to market failures. In addition to empirically match what cure fit what type of market failure, I posit the notion that the normative position of an economist, or policy maker, or of a group, concerned with these problems, delimits the options available for recommending, or analysing, what co